The majority of the infrastructure world welcomed the first steps taken by the government and the Ministry of Infrastructure and Transport through the recent Legislative Act to pause all tenders, deadlines for projects and concessions, ypodomes.com reports. At the same time, there is a “battle” to keep the construction sites alive as there is a debate about it. Sources from the Ministry of Infrastructure and Transport told ypodomes.com that there is no intention to close the construction sites at this time.
Owners of illegal buildings in Greece, or those adding additions unlawfully won’t have to raze them or face fines, with the New Democracy government giving them more than four years – until Dec. 31, 2025 to enter a settlement plan, at a higher cost. Governments in Greece have been reluctant to go after owners of unlawful buildings who represent a sizeable voting bloc, even though illegal structures in the seaside village of Mati were blamed for blocking access to the sea
In an attempt to boost the Greek real estate market, PM Kyriakos Mitsotakis announced on Wednesday a three-year suspension of VAT payments on any new building permits as well as those to be made on unsold properties built after January 1, 2006. In an address to a conference hosted by The Economist magazine, Mitsotakis noted that the Greek real estate market is already recovering, with property prices increasing by an impressive 7.7 percent in the second quarter of 2019. He added that there
Investments in commercial, residential and industrial buildings driven by strong tourism flows, government plans to increase the number of small and medium-sized enterprises, and high yield forecasts are set to drive Greece’s construction industry, according to findings released by Orbis Research. According to the report, citing GlobalData findings, the country’s construction sector is estimated at recovering over the 2018-2022 period, with a compound annual growth rate (CAGR) set to accelerate to 4.7 percent from -2.4 percent in 2013-2017. The
Construction licenses have soared in Attica, as a large number of companies have resumed their activity in the housing market, primarily thanks to the high demand from foreign buyers and secondly as a result of interest from some Greek buyers, ekathimerini.com reports. The numbers that the Hellenic Statistical Authority (ELSTAT) published on Wednesday for September showed that private construction activity in Attica recorded a 432.8 percent yearly increase in planned volume, a 200 percent expansion in surface to be covered